360 Paisley Road West, Glasgow, G51 1BG

Summary

The subjects are located within a single storey terrace under a flat asphalt covered roof.
The premises benefit from an extensive frontage comprising 3 display windows set behind security shutters. The shop is arranged to provide a good sized retail area together with storage and a tea prep and wc to the rear. The floor is concrete with a tile finish, the walls are plaster and lined mostly with slat panelling. There is a suspended ceiling with integrated LED lighting.

Key Points

PRICE

Our client is seeing offers in excess of £120,000 for their heritable interest, which provides a Net Initial Yield of 9.82%, allowing for purchases costs in the usual manner. We understand the property is not elected for VAT.

Tenancy Details

The premises were leased to Berts Stores Ltd (dissolved) on full repairing and insuring terms until 18th March 2028, at a rent of £12,000 per annum (£16.69 psf zone A). There was a fixed increase from £10,000 pa to £12,000 pa effective from 18th March 2023, this has only just been implemented. The rent is being paid by Berts Stores and there are no arrears.

EPC

A copy shall be provided upon request.

AML

Anti Money Laundering Regulations The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on the 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers.

Location

The subjects are located on the south side of Paisley Road West close to its junction with Cessnock Street, within the populated Cessnock area of Glasgow which lies around 3 miles to the south west of Glasgow city centre. The subjects trade as U-Save Convenience. Other occupiers include Glasgow Barbers, Zam Zam Grill, Tartan Fish & Chips, Lalo Market, Coral and the Co-op. There is on street pay & display parking locally.
The shop is well located for junction J23 of the M8 motorway. The shop is located next to Cessnock Underground Station.